The European Union draft on Markets in Crypto Assets seems to move forward as banning PoW-based digital assets is not on the table anymore.
The much-dreaded prospect of a ban on cryptocurrencies that use proof-of-work consensus is making its way into a key European digital asset directive appears to have blown over.
Thursday marked the last day when the European Parliament could stop the current draft of the Markets in Crypto Assets from proceeding to further consideration. The proponents of outlawing operations with PoW-based digital assets could not muster enough support to challenge the bill's current version, meaning that MiCa will safely pass on to be reviewed in tripartite meetings between the European Parliament, the European Commission and thEuropean Council.
On Thursday, Stefan Berger, the European Parliament member assigned to present MiCA to the legislature, announced that the regulatory projectthe specialized committee and had been granted the mandate to go into the tripartite meetings. Berger also warned that the mandate could be challenged if one-tenth of all MEPs vote against it. In that case, the second round of voting would be required at the April plenary. He called it the last possible attempt to freeze the moderate version of MiCa that doesn’t include a
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